[B]Fundamental Headlines[/B]
[I]• OECD Economies Improve, but Weak Recovery Is Expected – Wall Street Journal
• Small Firms Rack Up Job Losses – Wall Street Journal
• Rio Tinto profits drop in line with rivals– Financial Times
• Stocks Rise Worldwide as China Rebounds; Industrial Metals Gain – Bloomberg
• King Changes Tune as Slump Prompts ‘Activist’ Stance– Bloomberg[/I]
[B]USDCHF[/B] – The Swiss Trade balance surplus widened to 2.35 from 1.5 billion as exports rose by 4.1% as tradimg partners Germany and France are realizing positive growth. The increasing foreign demand may help end the country’s recession which is expected to lag Europe in recovery. Meanwhile, the Swiss Zew investopr sentiment reading soared to 18.6 from 0.0, which was a three year high and reinforced the positive outlook. However, the Swiss Nationa Bank’s Discuss the topic and your trade ideas in the USD/CHF Forum.
[B]GBPUSD[/B] – Retail spending in the U.K rose 0.4% in July, which was in-line with expectations, while the annual rate of consumption increased 3.3% from the previous year to top market forecasts for a 2.7% rise. The breakdown of the report showed demands for household goods jumped 4.5% after contracting 1.0% in June, while discretionary spending of food slipped 1.0% from the previous month, with sales of clothing and footwear slipping 0.4%. The fourth gain in the last five months bodes well for future growth as consumer demand accounts for a large portion of the country’s GDP. Discuss the topic and your trade ideas in the GBP/USD Forum.